A study released by market researchers Freedonia predicts that world demand for material handling products will increase by 6.5% by 2014.
Freedonia claims that in four years the global market could be worth $113bn, driven by strong growth in the US and the Asia/Pacific region.
According to the report, new technology-related products involving automation and process management software will account for a significant portion of demand.
The Asia/Pacific market is expected to outperform average worldwide growth predictions over the next four years by 0.5% posting 7% growth.
However the likely strongest performer during the same period, according to the study, will be the US, rebounding from a poor 2009 to achieve growth of 7.9%.
In addition to advanced products, sales of traditional material handling goods, such as industrial cranes and hoists, are expected to receive a boost from improved levels of demand in the west, particularly as the US domestic market improves.
Freedonia says that despite weak demand in 2009, the US accounted for over a quarter of global demand, and will see domestic demand rise by 8.2% year on year through 2014.
The report also highlights China’s strong performance, attributing the nation’s success to a favourable exchange rate and cheap labour, as well as Germany’s healthy manufacturing tradition, which along with its central European location has helped to maintain high export levels.
Freedonia claims that in four years the global market could be worth $113bn, driven by strong growth in the US and the Asia/Pacific region.
According to the report, new technology-related products involving automation and process management software will account for a significant portion of demand.
The Asia/Pacific market is expected to outperform average worldwide growth predictions over the next four years by 0.5% posting 7% growth.
However the likely strongest performer during the same period, according to the study, will be the US, rebounding from a poor 2009 to achieve growth of 7.9%.
In addition to advanced products, sales of traditional material handling goods, such as industrial cranes and hoists, are expected to receive a boost from improved levels of demand in the west, particularly as the US domestic market improves.
Freedonia says that despite weak demand in 2009, the US accounted for over a quarter of global demand, and will see domestic demand rise by 8.2% year on year through 2014.
The report also highlights China’s strong performance, attributing the nation’s success to a favourable exchange rate and cheap labour, as well as Germany’s healthy manufacturing tradition, which along with its central European location has helped to maintain high export levels.
RSS Feed
